Consumer prices steady in December

Consumer sentiment increased 4.9 points month-over-month in July to 54.4, but still down 7.3 points from one year ago, according to preliminary results of the University of Michigan Surveys of Consumers.

Industrial production edged up 0.1% in June and grew at an annual rate of 4% in the second quarter.

Given an increase in geopolitical uncertainties, crude oil volatility is on an upward trend.

Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1.427 million, which was 19% above the revised May estimate of 1.199 million and 3.5% above the June 2025 rate of 1.379 million.

While sentiment has slipped somewhat, community bankers nationwide remain broadly optimistic about future economic conditions, according to the latest quarterly survey by the Conference of State Bank Supervisors.

The rate for a 30-year fixed-rate mortgage was 6.55% this week. The rate for a 15-year fixed-rate mortgage was 5.93%.